Volkswagen has commissioned investment bank Evercore Ducati and other business valuation, and even began to contact with potential buyers, test each other's intention to buy. But so far, the group has yet to decide whether to divest from Ducati.
Informed sources said Ducati 2016 operating income of 593 million euros, tax depreciation and amortization of profits of nearly 100 million euros. By selling the motorcycle manufacturer, the public can get 1.5 billion euros of funds, is Ducati core earnings 15 times. Familiar with the automotive industry bankers believe that potential buyers may be more than 10 times the profitability of Ducati.
Potential buyers, Ducati may be attracted to the Chinese motorcycle companies, India Hero Motorcycle, investment alliances and private equity companies interest. In 2007 the British sports car manufacturer Aston Martin was sold to two international investment institutions composed of automotive investment alliance. Ducati has won 17 super motorcycle competitions, so many companies are very attractive. It is not yet clear whether Holliday, Kawasaki, and Honda are interested in Ducati.
2012 Audi to 860 million euros acquisition of Ducati, analysts questioned this, saying that this move can not bring economic benefits for the Audi, but the former chairman of the former chairman Ferdinand Piece on Ducati design and small The engine's interest dictates.
The biggest contributor to the deal has now removed the post of chairman, and even sold the 10.4% stake in Porsche Holdings held in the same period in early April to his brother Hans Michel Piech ), The remaining 4.3% sold to other family members. The most tight ties between Ducati and Audi have been interrupted.
And today's Volkswagen Group suffered by the exhaust valve, bear more than 200 billion dollars in damages and fines, need to spend huge sums of money to recall or repurchase part of the illegal diesel vehicles. In order to save money, the public cut its core brand of public brand jobs, the global large-scale layoffs 30,000 people.
Volkswagen CEO Mu Lun that the Group's excessive expansion led to the company's organizational structure is too inflated, so the need to streamline the structure. The Ducati's sale of the message is not the first time the public came the news, nor is the only group within the face of the sale of the brand, non-core business commercial vehicle brand Scania and Kaman, Bentley and Lamborghini are in Within the scope of consideration.
The sale of these brands can bring a very substantial cash flow to the public, to help them deal with the huge financial crisis caused by the exhaust valve, so that there is a lot of money to develop electric vehicles and high-tech. Electric cars are not only one of the contents of the settlement agreement between the public and the United States, but also an important measure for the group to deal with national emissions regulations.
As part of the Dispute Diesel Truck claims agreement, the public agreed to increase investment in electric vehicles in the United States, whereby the car prices had to spend additional R & D costs. California revealed that the public needs to add at least three electric cars in California by 2020, including a SUV model. The average annual sales of these electric vehicles must reach 5,000 vehicles.
And the exhaust valve has been the public by the excessive emissions, in order to reduce the average fuel consumption level, to China and the United States and other countries of the regulatory requirements, the Group must force electric vehicles. According to its 2025 development strategy plan, by 2025 sales of electric vehicles will reach two million to three million, contributing to the Group's global sales of 20% to 25% of electric vehicles.
Up to now, neither Audi nor Evercore has commented on the sale of Ducati. In the March 14 public annual press conference, Reuters asked whether the brand has been sold, Mullen said the car did not need to announce the news.
